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Tex. Lab. Code § 203.258

EXCESS REVENUE COLLECTIONS AND INVESTMENT EARNINGS

Known as the Texas Unemployment Compensation Act

The act spans §§ 201–215 (345 sections).

Added by Acts 2003, 78th Leg., ch. 317, Sec. 5, eff

Revenue collected from the unemployment obligation assessment in any year that exceeds the amount of the bond obligations and bond administrative expenses payable in that year and interest earned on the obligation trust fund may, in the discretion of the commission, be:

(1) used to pay bond obligations payable in the subsequent year, offsetting the amount of the assessment that would otherwise have to be levied for the year under this subchapter;

(2) used to redeem or purchase outstanding bonds;

(3) deposited in the unemployment compensation fund; or

(4) used to pay principal and interest on advances from the federal trust fund.

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.